WASHINGTON (CNN) - A proposed health-care compromise by the powerful chairman of the Senate Finance Committee lacks a government-run insurance option favored by Democrats and would tax the most expensive health insurance plans, a source close to the discussions told CNN Monday.

As expected, the proposal from Sen. Max Baucus, D-Montana, excludes the so-called public insurance option to compete with private insurers. However, it would allow for the creation of non-profit health care cooperatives - an idea that some moderate Democrats and Republicans have expressed possible interest in supporting.

The potential compromise proposal was sent to key Finance Committee negotiators Saturday night. It is considered a last-ditch effort to secure Republican votes for a health-care bill as President Barack Obama pushes the issue with a planned speech to a joint session of Congress on Wednesday night.

WASHINGTON (CNN) - The White House is set to release Monday the text of a controversial back-to-school speech to students from President Barack Obama that has angered some conservative parents and pundits.

The text of the 18-minute speech will be posted on the White House Web site so people can read it before its scheduled Internet broadcast to schoolchildren on Tuesday.

Some conservatives has expressed a fear that Obama is going to use the opportunity to press a partisan political agenda.

"Thinking about my kids in school having to listen to that just really upsets me," suburban Colorado mother Shanneen Barron told CNN Denver affiliate KMGH. "I'm an American. They are Americans, and I don't feel that's OK. I feel very scared to be in this country with our leadership right now."

On Sunday, Secretary of Education Arne Duncan said parents that are threatening to keep their children home Tuesday to avoid Obama's speech were being "silly."

Gov. Pawlenty said Sunday that he views former Gov. Palin as a teammate rather than a competitor and that he didn't think Sen. McCain made a mistake in selecting Palin as his 2008 running mate.

(CNN) – Minnesota’s Republican Gov. Tim Pawlenty, who is widely considered to be a likely contender for the 2012 Republican presidential nomination, said Sunday that he does not view himself as being in competition with his party’s most recent vice presidential nominee, former Alaska Gov. Sarah Palin.

Asked about his own 2012 plans, Pawlenty was coy and judicious, suggesting that his recent travels to many states likely to be important in the next White House race were because of his duties as the vice chair of the Republican Governors Association.

“Part of my responsibility,” Pawlenty told CNN Chief National Correspondent John King on Sunday’s State of the Union, “is to travel the country when appropriate, as time allows, to help Republican candidates for governor get elected or re elected. So that’s part of it. And, as time allows, I’m going to speak to issues that I think my party needs to improve on – both here in Minnesota and nationally. I believe that’s an important opportunity and responsibility.”

But Pawlenty was clear that he does not view himself as competing with former Gov. Palin.

The former Alaska governor is “a friend,” Pawlenty told King, “I don’t view her as somebody who’s a competitor for anything. I view her as a teammate.”

Pressed on his view of himself relative to Palin, Pawlenty reiterated, “I view her as a friend. And I think she’s somebody who has been a remarkable leader in Alaska under difficult circumstances. I don’t know what the future holds for her.”FULL POST

CNN: Pawlenty: With trigger, Dems 'will shoot themselves in the foot'
Even as members of President Obama’s fractured party appeared to warm to the notion of putting a so-called “trigger” on any public health insurance option in health care reform legislation, Minnesota’s Republican Gov. Tim Pawlenty said the approach was a bad idea. He said it would not help create the bipartisanship the White House and some Congressional Democrats – particularly those in the Senate – are looking for in order to pass a health care reform bill by the end of the year.

CNN: Klobuchar on a health care bill: 'I would like to see us at 60′
Two Democratic senators said Sunday that they would prefer not to see their party use “reconciliation,” a procedural maneuver in the Senate designed for budgetary legislation which only requires 50 votes for a bill to pass, in order to get a health care reform bill passed without the 60 votes necessary to break a filibuster.

CNN: I don't view Palin as a competitor for anything, says Pawlenty
Minnesota’s Republican Gov. Tim Pawlenty, who is widely considered to be a likely contender for the 2012 Republican presidential nomination, said Sunday that he does not view himself as being in competition with his party’s most recent vice presidential nominee, former Alaska Gov. Sarah Palin.